Croatian Property Market Transactions Plunge 13% in First Nine Months

The Croatian property market has experienced a considerable decline in transactions over the first nine months of 2025. According to the real estate agency Opereta, there were 85,600 property sales, reflecting a 13% decrease compared to the previous year.

Significant Trends in Property Sales

Split-Dalmatia County recorded the largest drop, with a staggering 30% decrease in sales. The most affected segments included flats and holiday apartments, which accounted for 17,164 sales, also down 13% year-on-year. In addition, 2,278 houses were sold, marking a 22% reduction.

The overall residential sector saw a 14% decline, though it still managed to drive market activity with a total of 19,442 sales.

Factors Influencing the Market Decline

• Slower market activity in key countries of property buyers.
• Increased interest rates in the eurozone.
• Significant price growth in the Croatian real estate market.

Boro Vujović, the director of Opereta, analyzed these trends and linked them to changing buying behaviors among consumers.

Regional Insights

Despite the overall decline, three counties reported growth in property transactions:

• Varaždin: +38%
• Koprivnica-Križevci: +18.2%
• Lika-Senj: +13.6%

This growth indicates a shift in interest towards northern and inland regions of Croatia, primarily driven by domestic buyers. Conversely, foreign buyers decreased by 22%, especially along the Adriatic coast.

Sources of Property Buyers

Germany, Slovenia, and Austria are traditionally the largest sources of foreign buyers in Croatia. However, these countries have experienced double-digit declines in transactions. In contrast, smaller markets such as Serbia, North Macedonia, and Romania are witnessing significant growth, with increases of 28%, 38%, and 50%, respectively.

Current Market Conditions in Zagreb

In Zagreb, the capital city, 11,682 properties were sold, reflecting a 20% decrease compared to last year. Nonetheless, Zagreb remains the most active market in the country.

Vujović noted a notable demand for new-build properties, which has helped stabilize asking prices, particularly for older residences. He emphasized that the current market conditions are favorable for long-term buyers, offering greater stability, opportunities for negotiation, and a focus on value and investment security.

The Croatian property market is facing challenges, yet it remains dynamic and responsive to buyer preferences and economic conditions.